Consolidation With Independence Blue Cross
On March 28, 2007, Highmark announced that it intended to consolidate with Independence Blue Cross of Philadelphia. The combination of these insurers would have created a new company with over 18,000 employees, with dual-headquarters in both Pittsburgh and Philadelphia. The new company would have had an economic impact of over $4 billion throughout the Commonwealth of Pennsylvania. On January 22, 2009, Highmark and Independence Blue Cross withdrew their applications to consolidate. This was due to the unacceptability of conditions that the Pennsylvania Insurance Department was going to place upon the merger .
Read more about this topic: Highmark
Famous quotes containing the words independence, blue and/or cross:
“... we’re not out to benefit society, to remold existence, to make industry safe for anyone except ourselves, to give any small peoples except ourselves their rights. We’re not out for submerged tenths, we’re not going to suffer over how the other half lives. We’re out for Mary’s job and Luella’s art, and Barbara’s independence and the rest of our individual careers and desires.”
—Anne O’Hagan (1869–?)
“Two wooden tubs of blue hydrangeas stand at the foot of the stone steps.
The sky is a blue gum streaked with rose. The trees are black.
The grackles crack their throats of bone in the smooth air.
Moisture and heat have swollen the garden into a slum of bloom.
Pardie! Summer is like a fat beast, sleepy in mildew....”
—Wallace Stevens (1879–1955)
“Things have dropped from me. I have outlived certain desires; I have lost friends, some by death ... others through sheer inability to cross the street.”
—Virginia Woolf (1882–1941)